Ireland national debt

Irish national debt has increased to 117% of GDP in recent years because of a large financial bailout to Irish banks, deep recession which saw a 20% drop in nominal tax revenues, and continued weakness in GDP growth which has made it difficult to reduce debt to GDP, despite government spending cuts.

External Debt

Gross External debt to GDP shows the liabilities to non-Irish residents. This amounts to over 1,000 % of GDP march 2010. However, these external liabilities are mostly offset by external assets. e.g. non-banking firms owning foreign assets.

Net External debt, is the difference between external liabilities and external assets. Net external debt has increased to 80% of GDP, Q1 2010. This rise in external debt reflects

Liabilities to European System of Central Banks (ESCB)

Growth in foreign investors holdings of long term Irish bonds has grown from €29.3 billion at end-2007 to €69.5 billion at end-March 2010.

Gross external government debt has increased from €30billion to over €80bn in 2010.

Hello i am from ireland it is unfair that the bigger counties like the UK find it easyer to sell bonds and interest rates are way below that of irelands to borrow even as there dept and out look for 2013 is just as bad as ireland i heard is because of them haveing there own money. central bank why did we ever get the euro????? Because i know one thing there is no getting out of the euro now…. Bein in the euro its cost ireland 50% of its wealt ,,,, to get out of the euro it will take the other 50% of ireland wealth

Neo Liberalism has caused this problem V.A.T is a return to feudalism paying tax to upkeep landlords and leaving land unused . It destroys industry increasing the unit costs . Fiat money is created by double entry book keeping creating a bubble property market . Paying private banks interest to borrow money when the state could create it for free ending austerity . Smell the coffee

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